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2287-78ExpendituresSunParlor
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2287-78ExpendituresSunParlor
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12/24/2012 10:20:32 AM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
1/18/1978
C - Council, Boards and By-laws - Department
Sun Parlor Home
C - Council, Boards and By-laws - Description
A by-law to authorize the borrowing of $3,000,000 to meet the current expenditures of the Sun Parlor Home for Senior Citizens for the year 1978
C - Council, Boards and By-laws - Bylaw No
2287-78
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By-law
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V <br />WHEREAS the Council of the Corporation of the County of <br />Essex (hereinafter called the "Municipality ") deems it necessary to borrow <br />the sum of $300,000.00 to meet, until the taxes are collected, the current <br />expenditures of the Municipality for the year; <br />A BY -LAW TO AUTHORIZE THE BORROWING OF $300,000.00 TO MEET THE <br />CURRENT EXPENDITURES OF THE SUN PARLOR HOME FOR SENIOR CITIZENS <br />FOR THE YEAR 1978. <br />AND WHEREAS the total amounts heretofore borrowed for the <br />purposes mentioned in subsection (1) of Section 332 of The Municipal Act <br />which have not been repaid is nil. <br />THEREFORE the Council of the Corporation of the County of <br />Essex hereby enacts as follows: <br />1. The Head and the Treasurer are hereby authorized on <br />behalf of the Municipality to borrow from time to time by way of promissory <br />note from the Bank of Montreal, a sum or sums not exceeding the aggregate <br />$300,000.00 to meet until the taxes are collected the current expenditures <br />of the municipality for the year, including the amounts required for the <br />purposes mentioned in subsection (1) of Section 332, of the Municipal Act, <br />and to give on behalf of the Municipality to the Bank a promissory note or <br />notes sealed with the Corporate Seal and signed by the Head and Treasurer <br />for the moneys so borrowed, with interest at such rate as may be agreed <br />upon from time to time with the Bank. <br />2. All sums borrowed pursuant to the authority of this by- <br />law, as well as all other sums borrowed in this year and in previous years <br />from the said Bank for any or all of the purposes mentioned in the said <br />Section 332, shall, with interest thereon, be a charge upon the whole of the <br />revenues of the municipality for the current year and for all preceding years <br />as and when such revenues are received. <br />3. The Treasurer is hereby authorized and directed to apply <br />in payment of all sums borrowed as aforesaid, together with interest thereon, <br />all of the moneys hereafter collected or received either on account or <br />realized in respect of taxes levied for the current year and preceding years <br />or from any other sources which may lawfully be applied for such purpose. <br />repealed. <br />BY -LAW NUMBER 2287 <br />4. All other by -laws inconsistent to this by -law are hereby <br />5. This by -law shall come into force and take effect as <br />of the 1st day of January, 1978. <br />PASSED this 18th day of January , 1978. <br />1st reading -Jan. 18/78 <br />2nd reading -Jan. 18/78 <br />3rd reading -Jan. 18/78 <br />�fi( nK, fIt _(7 1 2_ <br />WARDEN d <br />ZZ <br />j <br />/,7-, <br />CLERI <br />
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